Strs Ohio Grows Holdings in The Charles Schwab Corporation $SCHW

Strs Ohio grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 967,433 shares of the financial services provider’s stock after buying an additional 133 shares during the quarter. Strs Ohio’s holdings in Charles Schwab were worth $88,269,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Atria Investments Inc grew its stake in Charles Schwab by 17.0% in the 2nd quarter. Atria Investments Inc now owns 180,587 shares of the financial services provider’s stock valued at $16,477,000 after acquiring an additional 26,237 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Charles Schwab by 25.5% during the 2nd quarter. Savvy Advisors Inc. now owns 26,068 shares of the financial services provider’s stock worth $2,378,000 after acquiring an additional 5,293 shares during the period. Assetmark Inc. raised its holdings in Charles Schwab by 66.5% in the second quarter. Assetmark Inc. now owns 718,190 shares of the financial services provider’s stock valued at $65,528,000 after buying an additional 286,871 shares during the period. Keybank National Association OH raised its holdings in Charles Schwab by 1.1% in the second quarter. Keybank National Association OH now owns 50,131 shares of the financial services provider’s stock valued at $4,574,000 after buying an additional 523 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in Charles Schwab by 1.6% in the second quarter. HBK Sorce Advisory LLC now owns 27,635 shares of the financial services provider’s stock valued at $2,521,000 after acquiring an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 69,156 shares of company stock worth $6,686,934. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on SCHW shares. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Stock Up 0.8%

NYSE:SCHW opened at $94.59 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $171.70 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The stock’s 50 day moving average price is $94.34 and its two-hundred day moving average price is $90.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has approved a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.